I'm usually not that critical about most things, I enjoyed every Youtube Rewind. But I'll admit the last few Rewinds clearly veered away from its intended purpose of showing off what and who happened on Youtube during that year. MKBHD put it best on his video about what happened with YT Rewind. YT turned the event into a huge commercial for advertisers almost completely ignoring that which made YT what it is today. This exposure plus the enormous amount of dislikes the video has at this moment (see below) seem to have forced YT to cancel any future plans for Rewind. It's a shame but maybe for the best.
I believe this is an excellent opportunity for Youtubers to bring back Youtube Rewind by doing exactly what they do best, create it themselves without YTs involvement beyond using the site itself. I just might consider sending msgs to several of my fav Youtubers to see if maybe they get inspired to create a Rewind of their own and bring back the true meaning of this event.